Bitcoin reached a new all-time high of $75,242 on the (6th) day, stimulated by Trump's re-election as US president. After a brief period of volatility for a few hours, Bitcoin reached a new all-time high of $76,422 around 5 a.m. this (7th) morning. Before the deadline, it has slightly retreated to the $75,000 level, with the 24-hour increase narrowing to 5.63%.
Ethereum, on the other hand, has shown a stronger increase compared to Bitcoin, reaching a high of $2,816 at the time of writing, with a 24-hour increase of 13.78%.
$587 million in crypto liquidations in the past 24 hours
According to Coinglass data, in the volatile and rising Bitcoin market, the total crypto liquidations in the past 24 hours exceeded $587 million (with short positions accounting for $397 million), and more than 137,000 people were liquidated.
However, the author also reminds investors that the total open interest in Bitcoin on exchanges has reached a new high of $45.4 billion, which usually indicates the potential for greater volatility or that a short-term top may have been reached, so investors should be cautious.
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